According to an RBI statement, the committee will evaluate the preparedness of the financial industry for the adoption of quantum-safe cryptography and recommend a roadmap and framework to quantum-secure the Indian financial system.
The panel will be headed by Dr Anil Prabhakar, Professor in the Department of Electrical Engineering at IIT Madras, as Convener. Other members include senior representatives from the Department of Science and Technology (DST), State Bank of India (SBI), National Payments Corporation of India (NPCI), Ministry of Electronics and Information Technology (MeitY), Data Security Council of India (DSCI) and RBI.
Among its key responsibilities, the committee will explore and assess the impact of quantum technologies on the financial sector, including associated operational and cybersecurity risks.
The committee will also evaluate the financial sector’s cryptographic inventory through a Cryptography Bill of Materials (CBOM), assess crypto agility and identify systems and processes that may be vulnerable to quantum threats.
In addition, the panel will undertake a cross-country analysis to study global regulatory frameworks and assess their adequacy for the safe deployment of quantum applications in the financial ecosystem.
The RBI said the committee would also review industry preparedness for adopting quantum-safe cryptography, including the availability, scalability and maturity of vendor tools and solutions.
Based on its findings, the panel will recommend a roadmap and framework aimed at strengthening the resilience and security of India’s financial infrastructure against future quantum computing threats.
The committee has been asked to submit its report within six months from the date of its first meeting.
(Edited by : Prashant)
First Published: May 25, 2026 5:59 PM ist
